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Associate Quantitative Risk Analyst Jobs in Chicago, IL

Northern Trust

Specialist, Investment Risk

Chicago, IL · On-site

$137K - $233K/yr

Expand the use of quantitative risk analysis and export the best practices to other investment products. * Develops periodic goals, organizes the work, sets short-term priorities, monitors all ...

Northern Trust

Specialist, Investment Risk

Chicago, IL · On-site

$137K - $233K/yr

Expand the use of quantitative risk analysis and export the best practices to other investment products. * Develops periodic goals, organizes the work, sets short-term priorities, monitors all ...

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

Analyze data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans. Essential Responsibilities * Use data and analytics to develop analytical ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

Analyze large datasets (e.g., exposure data, claims data, hazard data) to assess model performance ... quantitative field. * 5+ years of experience in catastrophe modeling, natural hazard risk research ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

Analyze large datasets (e.g., exposure data, claims data, hazard data) to assess model performance ... quantitative field. * 5+ years of experience in catastrophe modeling, natural hazard risk research ...

ComEd

Quantitative Analyst

Oakbrook Terrace, IL · On-site

Primary Purpose The Quantitative Analyst for the Utility of the Future will design and develop ... pricing, risk management, and overall strategic planning for innovative utility platform ...

Invesco

Junior Risk Analyst

Downers Grove, IL · Hybrid

... and quantitative skills, with interest in benchmarking, performance measurement, and attribution, as well as portfolio risk (e.g., factor exposures, volatility, drawdowns, tracking error, sector ...

Invesco

Junior Risk Analyst

Downers Grove, IL · On-site

... and quantitative skills, with interest in benchmarking, performance measurement, and attribution, as well as portfolio risk (e.g., factor exposures, volatility, drawdowns, tracking error, sector ...

FINRA

Principal Analyst, Risk Monitoring

Chicago, IL · Hybrid

FINRA is seeking a Senior Risk Monitoring Analyst to play a pivotal role in safeguarding the ... Intermediate-to-Advanced quantitative and analytical problem-solving abilities * Proven ability to ...

Allstate

Intermediate Quantitative Analyst

Chicago, IL · On-site

$124K - $165K/yr

This role is responsible for performing quantitative analysis and research within the Risk and Return group of Allstate Investments. The primary focus of this role is private markets research and ...

Corgi Insurance

Quantitative Associate

Chicago, IL · On-site

$200K - $350K/yr

Build and maintain quantitative models to support pricing, underwriting, forecasting, and business ... risk modeling, or actuarial concepts. * Experience building production analytical tools or models.

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Associate Quantitative Risk Analyst information

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How much do associate quantitative risk analyst jobs pay per hour?

As of Jul 12, 2026, the average hourly pay for associate quantitative risk analyst in Chicago, IL is $41.71, according to ZipRecruiter salary data. Most workers in this role earn between $30.72 and $50.77 per hour, depending on experience, location, and employer.

What does a quantitative risk analyst do?

A quantitative risk analyst evaluates financial risks using mathematical models and statistical techniques to identify potential losses and inform decision-making. They analyze data, develop risk assessment tools, and often use programming languages like Python or R, as well as risk management software, to monitor and mitigate risks within organizations. Strong analytical skills and knowledge of finance and statistics are essential for this role.

What are some common challenges faced by Associate Quantitative Risk Analysts in their first year, and how can they overcome them?

In their first year, Associate Quantitative Risk Analysts often encounter challenges such as adapting to complex financial models, learning to interpret large datasets, and effectively communicating technical findings to non-technical stakeholders. Navigating regulatory requirements and understanding the company's risk management framework can also be demanding. To overcome these obstacles, new analysts should proactively seek mentorship, participate in team discussions, and leverage internal training resources to build both technical and soft skills. Regular collaboration with colleagues in risk, finance, and IT departments can also provide valuable insights and accelerate professional growth.

What is the difference between Associate Quantitative Risk Analyst vs Credit Risk Analyst?

AspectAssociate Quantitative Risk AnalystCredit Risk Analyst
Required CredentialsBachelor's in finance, economics, or related field; often some familiarity with quantitative methodsBachelor's in finance, economics, or related field; certifications like CFA or FRM are common
Work EnvironmentFinancial institutions, risk management teams, quantitative departmentsBanking, lending institutions, credit departments
Employer & Industry UsageUsed in risk modeling, data analysis, and quantitative assessmentsFocuses on assessing creditworthiness and loan risk

The Associate Quantitative Risk Analyst primarily focuses on developing models and analyzing data to measure financial risks, often working with quantitative tools. In contrast, a Credit Risk Analyst concentrates on evaluating the creditworthiness of borrowers and managing credit risk. While both roles require similar educational backgrounds and work within financial institutions, their core responsibilities differ—one emphasizes quantitative modeling, the other credit assessment.

How much does a quant risk analyst make?

The average salary for a quantitative risk analyst is typically between $80,000 and $150,000 annually, depending on experience, location, and the firm. At firms like Morgan Stanley, salaries can vary based on seniority, with entry-level roles starting around $80,000 and more experienced analysts earning over $130,000, often supplemented by bonuses and benefits.

Is a quant analyst high paying?

A quantitative risk analyst typically earns a high salary compared to many other finance roles, especially with advanced skills in mathematics, programming, and data analysis. Compensation varies by industry, experience, and location but often includes bonuses and incentives due to the specialized nature of the work.

What is the salary of a quant risk analyst?

The average salary of a quantitative risk analyst typically ranges from $70,000 to $150,000 annually, depending on experience, location, and industry. Entry-level positions may start lower, while experienced analysts with advanced skills in programming and risk modeling can earn higher compensation, often supplemented with bonuses and benefits.

What are Associate Quantitative Risk Analysts?

Associate Quantitative Risk Analysts are entry- to mid-level professionals who help financial institutions and organizations assess and manage risk using mathematical models and statistical techniques. They analyze data to identify potential risks, develop risk management strategies, and support decision-making processes. Their work often involves using quantitative software, working with large datasets, and collaborating with other risk management and finance professionals. Typically, they have backgrounds in mathematics, statistics, finance, or related fields.

What are the key skills and qualifications needed to thrive as an Associate Quantitative Risk Analyst, and why are they important?

To thrive as an Associate Quantitative Risk Analyst, you need a strong background in mathematics, statistics, finance, and data analysis, typically supported by a relevant degree such as in finance, mathematics, or economics. Familiarity with statistical software (like R, SAS, or Python), financial modeling tools, and possibly certifications such as FRM or CFA is highly valuable. Strong analytical thinking, attention to detail, and effective communication are crucial soft skills for interpreting complex data and presenting findings. These competencies are essential for accurately assessing financial risks and supporting informed decision-making in risk management environments.
What are the most commonly searched types of Quantitative Risk Analyst jobs in Chicago, IL? The most popular types of Quantitative Risk Analyst jobs in Chicago, IL are:
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What cities near Chicago, IL are hiring for Associate Quantitative Risk Analyst jobs? Cities near Chicago, IL with the most Associate Quantitative Risk Analyst job openings:
Associate Quantitative Risk Analyst jobs near you
Specialist, Investment Risk

Specialist, Investment Risk

Northern Trust

Chicago, IL • On-site

$137K - $233K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 8 days ago

Northern Trust rating

8.1

Company rating: 8.1 out of 10

Based on 26 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
We are actively seeking a highly experienced Investment Risk specialist in Equity and Derivatives, to lead our independent risk management initiatives and contribute to the success of our investment strategies.
The key responsibilities of the role include:
  • Provide independent oversight to risks associated with equities, derivatives and quantitative strategies, ensuring alignment with organizational goals and risk appetite.
  • Lead efforts by identifying, analyzing, reporting and mitigating potential investment risks within established risk guidelines.
  • Understand and enhance risk models for equities and derivatives, utilizing advanced quantitative techniques to assess and manage risk exposure. Eg. Factor-based risk
  • Document policies, procedures and standards related to the investment risk oversight and governance of equities and derivatives.
  • Ensure compliance with regulatory requirements and industry standards related to equity and derivative investments, collaborating with legal and compliance teams.
  • Effectively communicate risk assessments, mitigation strategies, and performance insights to senior management, committees, board members, and external stakeholders.
  • Stay abreast of industry best practices and emerging trends in investment risk management, driving innovation and improvement in risk processes.
  • Collaborate closely with portfolio managers, traders, and other investment professionals to integrate risk management into the investment decision-making process
  • Expand the use of quantitative risk analysis and export the best practices to other investment products.
  • Develops periodic goals, organizes the work, sets short-term priorities, monitors all activities, and ensures timely and accurate completion of work.

The successful candidate will benefit from having:
  • Bachelor's degree in Finance, Economics, or a related field; advanced degree (e.g., MBA, CFA) is highly desirable.
  • 10+ years of experience in investment risk management, with a focus on equities, derivatives and quantitative risk management.
  • Proven track record of successfully leading risk management efforts for equity and derivative portfolios in a complex and dynamic market environment.
  • Expertise and experience in risk models for equities and derivatives, utilizing quantitative methodologies.
  • In-depth knowledge of equity markets, derivatives, quantitative methods, financial instruments, and regulatory landscape.
  • Excellent communication and presentation skills, with the ability to convey complex concepts to diverse stakeholders.
  • Strategic mindset, with the ability to contribute and challenge the overall investment strategy of the organization

#LI-LK2, #LI-Hybrid
Salary Range:
$137,400 - 233,600 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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